The New York City Council launched an investigation into the marketing practices of Polymarket, Kalshi, Coinbase, and Gemini Titan. Council Speaker Julie Menin leads the probe into allegations of deceptive and predatory advertising. Investigators are specifically examining marketing tactics that target young adults and minors.
The inquiry follows reports of misleading promotional tactics involving social media influencers who failed to disclose partnerships. Some platforms allegedly presented fake or losing bets as winning ones to attract users.
The council aims to determine if existing city laws sufficiently protect consumers or if new policies are required. This investigation remains separate from New York Attorney General lawsuits alleging illegal gambling operations against certain platforms.